boom

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Boom

A period of rapid, strong economic and/or stock growth. For example, some developing countries post GDP growth of 10-12% per year, especially after they have liberalized their economic policies. Likewise, some stocks may become suddenly very popular, resulting in a boom. The dot-com bubble is one of the most famous examples of a stock boom. The problem with booms is that the growth is rarely sustainable, as investors become more and more speculative and take needless risks. Thus, most booms ultimately result in busts. Many economists believe the boom-and-bust cycle is an inevitable part of doing business, while others believe that government regulation can limit both booms and busts.

boom

see BUSINESS CYCLE.

boom

a phase of the BUSINESS CYCLE characterized by FULL EMPLOYMENT levels of output (ACTUAL GROSS NATIONAL PRODUCT) and some upward pressure on the general PRICE LEVEL (see INFLATIONARY GAP). Boom conditions are dependent on there being a high level of AGGREGATE DEMAND, which may come about autonomously or be induced by expansionary FISCAL POLICY and MONETARY POLICY. See DEMAND MANAGEMENT.
References in periodicals archive ?
Blumstein shows that the entire increase in homicides during the crime boomlet of the mid-1980s can be attributed to rising handgun use among kids and young adults under twenty-five years old.
It's not exactly a flattering garment,'' laughed Matheson, a buffed boomer who grew up in Sherman Oaks and Burbank, and now lives with his wife and three boomlets in Santa Barbara.
Personal matters, not to put too fine a point on it, always rear their Medusa heads just as Kennedy boomlets begin: the drowning, the divorce, even that old college cheating scandal.